CleanMax Files ₹5,200 Cr IPO; Two SME IPOs Open This Week
The IPO includes a fresh issue of equity shares worth up to ₹1,500 crore and an offer-for-sale of up to ₹3,700 crore by promoters and selling shareholders
Mumbai: CleanMax Enviro Energy Solutions, a commercial and industrial renewable energy provider, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to raise ₹5,200 crore through an initial public offering.
The IPO includes a fresh issue of equity shares worth up to ₹1,500 crore and an offer-for-sale of up to ₹3,700 crore by promoters and selling shareholders. Proceeds of ₹1,125 crore from the fresh issue will be used to repay certain outstanding borrowings of the company and its subsidiaries.
CleanMax provides renewable power (wind, solar, wind-solar), energy services, and carbon credit solutions to sectors such as data centres, AI and technology, cement, steel, manufacturing, FMCG, pharmaceuticals, real estate, and global capability centres. Its offerings range from energy contracting and EPC services to O&M services, covering both onsite client installations and offsite projects through CleanMax-owned renewable farms contracted under bilateral PPAs. The company had 531 customers across 1,127 signed PPAs as of March 31, 2025.
Meanwhile, in the SME IPO segment, Studio LSD and LGT Business Connextions are launching their offerings this week.
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Studio LSD IPO: A multimedia production house specializing in content creation, it opens on August 18 and closes on August 20, 2025. The ₹74.25 crore IPO, priced at ₹51–₹54 per equity share (face value ₹2), will list on the NSE Emerge platform.
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LGT Business IPO: A tourism aggregator of hotels, airlines, and visa services, it opens on August 19 and closes on August 21, 2025. The ₹28.09 crore IPO, priced at ₹107 per equity share (face value ₹10), will list on the BSE SME platform.
